Apple Becomes World's Most Valuable Publicly Traded Company Amid Mixed Performance Among Magnificent 7 Stocks
On July 28, Apple Inc. (AAPL) surpassed Nvidia to become the world’s most valuable publicly traded company with a market cap of $4.95 trillion after its shares rose by 1.17%. This marks a reversal from earlier in the year when Microsoft had taken over the top spot. Apple is outperforming other members of the Magnificent 7, having gained 23.93% year-to-date (YTD), while companies like Meta and Tesla have seen significant declines. The tech sector as a whole has been focused on AI development, but Apple's approach appears more measured compared to rivals who are heavily investing in their own AI infrastructure. Apple’s cautious strategy may be attracting investors wary of the high capital expenditures being made by other Big Tech firms like Alphabet and Microsoft. While competitors ramp up spending for AI expansion, Apple is expected to spend only $13–$14 billion on capex this year.
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